Housing News for 12/13/16

Please enjoy this quick update on what happened this week in the housing and financial markets.

Stock markets continue to hit new highs on expectations that the Trump administration will bring economic growth, which has contributed to rate volatility.

The ECB has decided to extend overseas bond purchases, but at a lesser amount starting in April. The ECB stimulus is supportive of lower mortgage rates.

The Fed meets next week and is 100% expected to raise policy rates. Markets will look for guidance on future action, and reactions could cause more rate volatility.

Politics even trickle into the housing market. After the election, surveys showed Republicans’ housing market expectations improved, while Democrats’ reversed.

Rising mortgage rates have not dampened demand for housing. Inventory continues to be a concern though, especially for first-time buyers.

Trump has chosen Ben Carson to head up HUD. Opinions vary about the choice, mainly due to Carson’s lack of experience in government or housing.

I became a Realtor® after quitting my job making origami. I wanted a job with less paperwork.

Rate movements and volatility are based on published, aggregate national averages and measured from the previous to the most recent midweek daily reporting period. These rate trends can differ from our own and are subject to change at any time.